Silver Oak Securities Incorporated Takes Position in Penumbra, Inc. (NYSE:PEN)

Silver Oak Securities Incorporated bought a new position in shares of Penumbra, Inc. (NYSE:PEN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,040 shares of the company's stock, valued at approximately $278,000.

Several other institutional investors and hedge funds have also made changes to their positions in PEN. Quadrant Capital Group LLC grew its stake in Penumbra by 6.6% in the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock valued at $150,000 after purchasing an additional 39 shares during the last quarter. Baker Avenue Asset Management LP grew its stake in Penumbra by 1.6% in the fourth quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company's stock valued at $791,000 after purchasing an additional 53 shares during the last quarter. Fifth Third Bancorp grew its stake in Penumbra by 16.4% in the first quarter. Fifth Third Bancorp now owns 404 shares of the company's stock valued at $108,000 after purchasing an additional 57 shares during the last quarter. Corient Private Wealth LLC grew its stake in Penumbra by 3.7% in the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock valued at $403,000 after purchasing an additional 61 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Penumbra by 25.0% in the fourth quarter. Jones Financial Companies Lllp now owns 375 shares of the company's stock valued at $89,000 after purchasing an additional 75 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Johanna Roberts sold 900 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $298.55, for a total value of $268,695.00. Following the completion of the transaction, the executive vice president directly owned 65,314 shares of the company's stock, valued at approximately $19,499,494.70. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arani Bose sold 12,000 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $298.73, for a total value of $3,584,760.00. Following the completion of the transaction, the director directly owned 302,819 shares of the company's stock, valued at approximately $90,461,119.87. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,810 shares of company stock valued at $31,734,215. Corporate insiders own 5.00% of the company's stock.

Penumbra Price Performance

Shares of PEN stock traded down $3.58 during trading hours on Wednesday, hitting $244.22. 183,181 shares of the company's stock were exchanged, compared to its average volume of 452,362. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. The firm has a market cap of $9.46 billion, a P/E ratio of 230.30, a P/E/G ratio of 2.21 and a beta of 0.47. The firm has a 50 day moving average of $267.17 and a two-hundred day moving average of $268.32. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The business's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. Sell-side analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PEN shares. Robert W. Baird upped their price objective on shares of Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. BTIG Research restated a "buy" rating on shares of Penumbra in a report on Thursday, April 24th. Bank of America started coverage on shares of Penumbra in a report on Friday, March 14th. They set a "buy" rating and a $320.00 price objective on the stock. Royal Bank Of Canada upped their price objective on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company upped their target price on Penumbra from $305.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

About Penumbra

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.